LOGISTICS-

UAE’s Gulftainer eyes USD 1 bn investment in our ports: Emirati port operator Gulftainer is planning to invest USD 1 bn in Egypt’s container terminal management and port logistics services, according to an Egyptian Commercial Representation Service statement. This came during a meeting between Transport Minister Kamel El Wazir and company officials on the sidelines of the World Maritime Day Parallel Event in Dubai. The company is looking at managing and operating container terminals in East Port Said, Alexandria, or Damietta.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

What’s next? A delegation from the company will visit Egypt soon to assess opportunities ahead of potential agreements.

HOSPITALITY-

#1- Cairo House Egypt is in line for a EGP 15 bn loan for its Mogamma revamp from a syndicate of banks led by Banque Misr and the Arab African International Bank, Asharq Business reports, citing unnamed sources. The funds will go toward turning the former administrative juggernaut on Tahrir Square into a 500-key luxury hotel under Marriott’s Autograph Collection brand of hotels.

#2- Sunrise Resorts & Cruises is looking to open 50 new hotels in Egypt under an agreement with international hospitality giant and Minor International subsidiary Minor Hotels, according to a cabinet statement. Four of the planned hotels will be launched in partnership with Madar Developments and will be housed in its developments. The extra 50 hotels would nearly triple Sunrise’s current portfolio of hotels.

HEALTHCARE-

#1- Healthcare leader Alameda Healthcare plans to invest USD 250 mn by 2028, with plans to add 600 new beds in three new hospitals, Group CEO Neeraj Mishra said. Some of the planned investments will be allocated to planned expansions in Saudi Arabia, Mishra added.

#2- Italian investors have submitted an offer to the Health Ministry to set up a EGP 3 bn hospital in New Cairo, Health Ministry spokesperson Hossam Abdel Ghaffar told Al Arabiya. The ministry has received around 15 offers from investors in Egypt, the Gulf, and Europe to operate between three and four hospitals, he added.

M&A WATCH-

Mostakbal Misr Agency for Sustainable Development acquired 8.8% of EGX-listed International Company for Medical Industries (ICMI) for EGP 22.8 mn, according to a disclosure (pdf). The news follows the Egyptian Armed Forces-linked company increasing its stake in the listed Mansoura Poultry Company to 22.5% from 4.8% for EGP 212.6 mn last week.

Tags: